Power Corp of Canada Has $4.61 Million Holdings in AT&T Inc. (NYSE:T)

Power Corp of Canada reduced its position in AT&T Inc. (NYSE:T) by 6.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,665 shares of the technology company’s stock after selling 19,033 shares during the period. Power Corp of Canada’s holdings in AT&T were worth $4,609,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Frank Rimerman Advisors LLC acquired a new position in shares of AT&T during the 4th quarter valued at about $25,000. Ramirez Asset Management Inc. acquired a new position in shares of AT&T during the 3rd quarter valued at about $30,000. Western Pacific Wealth Management LP acquired a new position in shares of AT&T during the 4th quarter valued at about $39,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock valued at $39,000 after acquiring an additional 606 shares during the last quarter. Finally, Morton Brown Family Wealth LLC increased its holdings in shares of AT&T by 588.2% during the 4th quarter. Morton Brown Family Wealth LLC now owns 2,622 shares of the technology company’s stock valued at $44,000 after acquiring an additional 2,241 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

T has been the topic of a number of research analyst reports. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research report on Tuesday. Scotiabank raised their price objective on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday, April 25th. Finally, StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.32.

AT&T Price Performance

T remained flat at $17.86 during trading on Tuesday. The company’s stock had a trading volume of 29,688,900 shares, compared to its average volume of 36,885,746. The company’s 50 day moving average price is $17.18 and its 200 day moving average price is $17.03. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T Inc. has a 52-week low of $13.43 and a 52-week high of $18.45. The company has a market capitalization of $128.06 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 3.56 and a beta of 0.60.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. On average, sell-side analysts forecast that AT&T Inc. will post 2.24 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.22%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.